Europe’s commissioner industry will today outline measures to galvanise the region’s struggling car industry, focusing on innovation, low carbon emissions and using trade negotiations to fend off competition from emerging markets, according to EU sources.
Antonio Tajani could please environmentalists by emphasising regulation to foster a sustainable industry, but the commissioner might disappoint those in the car industry who have called for more relaxed rules to help them cope with the financial downturn.
Any finance available is likely to be in the form of preferential loans from the European Investment Bank, the sources said. They would help with the unprecedented amounts of cash needed for innovation. – (Reuters)